Clearline Capital LP Has $7.66 Million Position in BigCommerce Holdings, Inc. (NASDAQ:BIGC)

Clearline Capital LP increased its holdings in BigCommerce Holdings, Inc. (NASDAQ:BIGC) by 27.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 949,931 shares of the company’s stock after purchasing an additional 203,785 shares during the period. Clearline Capital LP’s holdings in BigCommerce were worth $7,656,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board bought a new stake in shares of BigCommerce in the 2nd quarter valued at approximately $35,000. Acadian Asset Management LLC bought a new stake in BigCommerce in the first quarter valued at $80,000. Virtu Financial LLC acquired a new position in BigCommerce during the first quarter worth $104,000. AQR Capital Management LLC acquired a new position in BigCommerce during the second quarter worth $121,000. Finally, Bayesian Capital Management LP bought a new position in shares of BigCommerce during the first quarter valued at $144,000. Institutional investors own 79.21% of the company’s stock.

Analyst Upgrades and Downgrades

BIGC has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 target price on shares of BigCommerce in a report on Wednesday, August 28th. Barclays decreased their price objective on shares of BigCommerce from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Finally, Bank of America cut their target price on shares of BigCommerce from $8.00 to $6.00 and set an “underperform” rating for the company in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $8.93.

BigCommerce Price Performance

Shares of BIGC stock opened at $6.08 on Friday. BigCommerce Holdings, Inc. has a 1 year low of $5.35 and a 1 year high of $10.29. The company has a current ratio of 4.51, a quick ratio of 4.51 and a debt-to-equity ratio of 13.04. The firm’s 50 day moving average is $6.23 and its 200-day moving average is $6.92. The firm has a market capitalization of $469.83 million, a price-to-earnings ratio of -9.50 and a beta of 0.98.

BigCommerce (NASDAQ:BIGC) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. The firm had revenue of $81.83 million for the quarter, compared to the consensus estimate of $81.13 million. BigCommerce had a negative return on equity of 82.39% and a negative net margin of 12.68%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.17) EPS. Sell-side analysts forecast that BigCommerce Holdings, Inc. will post -0.3 EPS for the current fiscal year.

BigCommerce Company Profile

BigCommerce Holdings, Inc operates a software-as-a-service platform for enterprises, small businesses, and mid-markets in the United States, North and South America, Europe, the Middle East, Africa, and the AsiaPacific. The company provides a platform for launching and scaling an ecommerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integration into third-party services.